MMAT · Meta Materials Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.27M | - | $2.20M | $2.03M | $1.41M | - | $2.46M | $3.32M | $2.97M | - |
| Cost of Revenue | - | - | - | - | $741.0K | - | $696.7K | $878.0K | $778.7K | - |
| Gross Profit | $2.54M | - | $1.41M | $1.26M | $671.3K | - | $1.76M | $2.45M | $2.20M | - |
| R&D | $2.66M | - | $5.09M | $5.06M | $6.52M | - | $6.23M | $6.49M | $1.78M | - |
| SG&A | $3.93M | - | $5.88M | $5.91M | $10.19M | - | $16.67M | $14.47M | $14.60M | - |
| Total Operating Expenses | $8.49M | - | $16.33M | $295.95M | $19.23M | - | $23.94M | $22.09M | $19.61M | - |
| D&A | $995.3K | - | $3.44M | $1.80M | $3.24M | - | $1.00M | $860.7K | $1.67M | - |
| Operating Income | ($5.95M) | - | ($14.93M) | ($294.69M) | ($18.56M) | - | ($22.18M) | ($5.16M) | ($17.41M) | - |
| Interest Expense | $108.8K | - | $125.5K | $4.5K | $113.0K | - | $134.2K | $142.1K | $164.4K | - |
| Income Tax | - | - | $540.8K | ($618.1K) | ($296.7K) | - | ($37.2K) | ($110.0K) | ($44.7K) | - |
| Net Income | ($7.51M) | - | ($8.74M) | ($293.65M) | ($18.67M) | - | ($24.48M) | ($20.98M) | ($18.43M) | - |
| EPS - Basic | ($1.21) | - | ($0.02) | ($0.65) | ($0.05) | - | ($0.07) | ($0.07) | ($0.26) | - |
| EPS - Diluted | ($1.21) | - | ($0.02) | ($0.65) | ($0.05) | - | ($0.07) | ($0.07) | ($0.06) | - |
Balance Sheet
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.40M | $9.72M | $9.19M | $13.96M | $6.03M | $10.09M | $30.61M | $53.58M | $29.75M | $46.65M |
| Accounts Receivable | $2.05M | $942.8K | - | - | - | $902.7K | $1.98M | $1.70M | $1.67M | - |
| Inventory | $123.9K | $168.7K | $122.3K | $477.2K | $459.6K | $468.0K | $274.1K | $294.9K | $367.0K | $265.7K |
| Accounts Payable | $9.70M | $10.27M | $10.70M | $11.66M | $15.77M | $16.69M | $12.82M | $11.45M | $9.94M | $13.34M |
| Current Assets | $10.72M | $17.40M | $15.99M | $19.83M | $16.48M | $22.60M | $112.68M | $133.15M | $108.99M | $131.38M |
| Total Assets | $46.36M | $55.23M | $121.75M | $128.86M | $402.37M | $408.92M | $482.65M | $508.38M | $414.28M | $434.02M |
| Current Liabilities | $18.58M | $23.58M | $16.71M | $16.76M | $18.95M | $19.67M | $87.55M | $86.50M | $84.67M | $91.64M |
| Long-term Debt | $2.96M | $2.92M | $2.95M | $3.18M | $3.13M | $3.07M | $2.14M | $2.25M | $2.92M | $2.74M |
| Total Liabilities | $28.03M | $33.29M | $28.42M | $28.61M | $29.40M | $30.35M | $93.83M | $93.25M | $92.54M | $99.32M |
| Stockholders' Equity | $18.34M | $21.94M | $93.33M | $100.25M | $372.97M | $378.56M | $388.83M | $415.13M | $321.74M | $334.71M |
| Retained Earnings | ($616.52M) | ($609.01M) | ($530.58M) | ($521.84M) | ($226.17M) | ($207.50M) | ($192.29M) | ($167.81M) | ($146.83M) | ($128.39M) |
Cash Flow
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($5.92M) | - | - | - | ($15.52M) | - | - | - | ($18.75M) | - |
| Investing Cash Flow | $32.1K | - | - | - | ($437.5K) | - | - | - | $1.14M | - |
| Financing Cash Flow | $2.65M | - | - | - | $10.66M | - | - | - | $275.1K | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 77.6% | - | 63.9% | 61.9% | 47.5% | - | 71.6% | 73.6% | 73.8% | - |
| Operating margin | -181.8% | - | -678.5% | -14513.0% | -1314.2% | - | -903.0% | -155.1% | -585.2% | - |
| EBITDA margin | -151.4% | - | -522.1% | -14424.3% | -1084.4% | - | -862.2% | -129.2% | -529.0% | - |
| Net margin | -229.5% | - | -397.1% | -14462.0% | -1321.9% | - | -996.5% | -631.3% | -619.7% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | 81.3% | - | 231.3% | 249.2% | 461.6% | - | 253.8% | 195.3% | 59.8% | - |
| SG&A / Revenue | 120.0% | - | 267.3% | 291.2% | 721.2% | - | 678.9% | 435.4% | 490.7% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -16.2% | - | -7.2% | -227.9% | -4.6% | - | -5.1% | -4.1% | -4.4% | - |
| Return on equity | -41.0% | - | -9.4% | -292.9% | -5.0% | - | -6.3% | -5.1% | -5.7% | - |
| Return on invested capital | - | - | -12.2% | -225.1% | -3.9% | - | -4.5% | -1.0% | -4.2% | - |
| Liquidity | ||||||||||
| Current ratio | 0.58 | 0.74 | 0.96 | 1.18 | 0.87 | 1.15 | 1.29 | 1.54 | 1.29 | 1.43 |
| Quick ratio | 0.57 | 0.73 | 0.95 | 1.15 | 0.85 | 1.13 | 1.28 | 1.54 | 1.28 | 1.43 |
| Cash ratio | 0.34 | 0.41 | 0.55 | 0.83 | 0.32 | 0.51 | 0.35 | 0.62 | 0.35 | 0.51 |
| Leverage | ||||||||||
| Debt / Equity | 0.16 | 0.13 | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / Assets | 0.06 | 0.05 | 0.02 | 0.02 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -54.7x | - | -119.0x | -65167.9x | -164.2x | - | -165.2x | -36.3x | -105.9x | - |
| Equity multiplier | 2.53 | 2.52 | 1.30 | 1.29 | 1.08 | 1.08 | 1.24 | 1.22 | 1.29 | 1.30 |
| Liabilities / Assets | 0.60 | 0.60 | 0.23 | 0.22 | 0.07 | 0.07 | 0.19 | 0.18 | 0.22 | 0.23 |
| Efficiency | ||||||||||
| Asset turnover | 0.07 | - | 0.02 | 0.02 | 0.00 | - | 0.01 | 0.01 | 0.01 | - |
| Inventory turnover | - | - | - | - | 1.61 | - | 2.54 | 2.98 | 2.12 | - |
| Days sales outstanding | 228d | - | - | - | - | - | 294d | 187d | 204d | - |
| Days inventory outstanding | - | - | - | - | 226d | - | 144d | 123d | 172d | - |
| Days payable outstanding | - | - | - | - | 7768d | - | 6715d | 4762d | 4661d | - |
| Cash conversion cycle | - | - | - | - | - | - | -6278d | -4452d | -4285d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 131.7% | - | -10.4% | -38.9% | -52.5% | - | 328.9% | 432.4% | 120284.3% | - |
| Revenue CAGR (3y) | 998.1% | - | 229.1% | 254.8% | 155.6% | - | 225.6% | 141.1% | 83.5% | - |
| Revenue CAGR (5y) | 46.7% | - | 76.4% | 48.3% | - | - | - | - | - | - |
| Gross profit growth (YoY) | 278.2% | - | -20.1% | -48.6% | -69.4% | - | 311.5% | 292.2% | - | - |
| Operating income growth (YoY) | 67.9% | - | 32.7% | -5615.3% | -6.6% | - | -92.7% | 1.6% | -746.9% | - |
| Net income growth (YoY) | 59.8% | - | 64.3% | -1299.5% | -1.3% | - | -114.2% | -305.0% | -796.8% | - |
| EPS growth (YoY) | -2320.0% | - | 71.4% | -828.6% | 16.7% | - | -250.0% | -133.3% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -95.1% | -94.2% | -76.0% | -75.9% | 15.9% | 13.1% | 7.8% | 12.8% | 481.8% | 2547.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Product / service
$23.15M totalDevelopment$7.22M · 31.2%
Development Revenue$7.22M · 31.2%
Contract Revenue$5.74M · 24.8%
Other Development Revenue$1.48M · 6.4%
License$625.2K · 2.7%
Licensing Revenue$625.2K · 2.7%
Product$117.4K · 0.5%
Product Sale$117.4K · 0.5%
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing META MATERIALS INC. against the 5 most active filers in the same SIC group.